Kate Andrews is economics editor of The Spectator
Is the Labour party planning a £2,000 tax grab on households? That was Rishi Sunak’s main message last night during the first election debate on ITV – one which he was found by YouGov’s snap poll to have won (just). The Tories will ‘keep cutting taxes’, he said, while Labour will raise them. It took
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The news that Donald Trump has been convicted of 34 felonies meant that the Labour leader faced questions about the former president on Friday morning, rather than the Diane Abbott selection storm. On his visit to Scotland, Starmer told the BBC that a Labour government would be willing to work with ‘whoever’ was elected in
When the Bank of England finally delivers an interest rate cut, can the Tory party take credit for it? Rishi Sunak thinks so. ‘We are the party who has committed to bringing down inflation, which is a necessary condition for bringing down interest rates,’ he told the Times in an interview published today. ‘And I think people
Junior doctors will be staging yet another walkout in the week running up to the election: five days in total, from 27 June to 1 July. It is the 11th walkout since March last year, as the union insists they will not settle for less than a 35 per cent pay raise. The dates are
Speaking to business leaders in the East Midlands this morning, Rachel Reeves delivered a fairly uncontroversial speech. In her first major address since the election was called last week, the shadow chancellor insisted that Labour is the ‘natural party of British business’ (a point bolstered by today’s letter signed by over 100 business chiefs endorsing Labour). She said
Something has to go badly wrong for anyone to become nostalgic for 2020. But the Tory’s latest election announcement – to create the ‘Triple Lock Plus’ – is just the thing to do it. The first autumn after the pandemic hit, then-chancellor Rishi Sunak was looking at the public finances in dismay, wondering how he might even
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Keir Starmer set out his first major speech to kick of Labour’s general election campaign. The Labour leader prioritised national security, a strong economy and the borders. But with a ‘policy light’ campaign – has he done enough? Kate Andrews speaks to Katy Balls and Fraser Nelson.
What is Labour’s tax-and-spend agenda? This is an outstanding question the party needs to answer before polling day – and Labour seems to know it. That is presumably why shadow chancellor Rachel Reeves sat in the BBC One hot seat on the first Sunday of the election campaign. ‘I totally agree I have to show
Has Rishi Sunak’s surprise summer election spared Britain some nanny state interventions? At first glance it seemed so, as it was revealed yesterday that the Prime Minister’s legacy legislation – the Tobacco and Vapes Bill – did not make it into the pile of ‘wash-up’ legislation that Parliament will try to pass before its dissolution next week.
This morning, Ofgem announced another reduction in the energy price cap from July. The new cap on the unit price of energy should see costs fall by another 7 per cent, taking £122 off the average household bill. And it didn’t take long for both the Tories and Labour to try to swing the news
Would waiting another few months to call a general election have improved the Conservatives’ prospects? Rishi Sunak didn’t touch upon this in his speech today, announcing a general election for 4 July, but it seems likely that their broad assessment was no. One of the big reasons for waiting until the autumn was the possibility
The UK inflation rate has slowed to 2.3 per cent on the year to April, down from 3.2 per cent in March. This marks the lowest headline inflation rate in almost three years, before the unwinding of lockdowns and release of pent-up demand sent prices spiralling. The Spectator‘s Data Hub outlines the inflation saga below:
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The IMF has upgraded the 2024 economic forecast for the UK. What does this mean for the Government and could more good news follow this week? And, with speeches on tax, benefit crackdowns and tackling anti-semitism, what should we make of all this political activity? Will we see the return of ‘the hot lectern guy’?
Today the International Monetary Fund has upgraded its growth forecasts for the UK: from 0.5 per cent this year to 0.7 per cent, followed by a 1.5 per cent rise in 2025 (unchanged from its previous update). These forecasts still sit slightly below the Office for Budget Responsibility’s most recent predictions – but only just.
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The Office for National Statistics (ONS) confirmed this morning that the UK confined its technical recession to 2023. The economy grew by 0.6 per cent in the first three months of the year, thanks in large part to stronger-than-expected growth in March, which reached 0.4 per cent. But is the plan really working? Also on
The Office for National Statistics (ONS) confirmed this morning that the UK confined its technical recession to 2023. The economy grew by 0.6 per cent in the first three months of the year, thanks in large part to stronger-than-expected growth in March, which reached 0.4 per cent. Both numbers were larger than expected (the consensus was for
The Bank of England’s Monetary Policy Committee has voted to hold interest rates for the sixth time in a row. Members of the MPC voted 7 – 2 to maintain the base rate at 5.25 per cent – with two members voting to cut rates by 0.25 percentage points. This decision will come as no surprise to
It’s all but certain that the UK’s exit from recession will be confirmed at the end of this week. Preliminary Q1 data, released on Friday, is expected to how slow and steady growth in the first three months of the year. It is also very likely that inflation will return to the government target of
The Organisation for Economic Cooperation and Development’s (OECD) latest report, published this morning, downgrades Britain’s growth prospects this year: from 0.7 per cent (forecast in November last year) to 0.4 per cent. Based on the OECD’s Economic Outlook, Britain and Germany risk experiencing the least growth amongst advanced economies, with Germany coming last this year
When Joseph Stiglitz talks, the left listens. The Nobel laureate has advised multiple Democratic presidents and the World Bank, where he worked as chief economist and senior vice president. He’s long been a leading critic of the liberal leanings that have dominated the West’s economic policy for four decades. So when we meet in The